GBPUSD - Ichimoku view on W1

When examining the Ichimoku analysis on the weekly chart for GBPUSD, we observe that the currency pair is currently testing the Kijun-sen. Notably, there has been a recent breach below the Tenkan-sen at the 1.28500 level, which leads us to anticipate a retest of this level in the forthcoming weeks. We expect the price to confront resistance at this juncture before retracing towards our initial support, situated at 1.23500.

Additionally, it's noteworthy that the Ichimoku cloud on the daily chart aligns with the Tenkan-sen level on the weekly chart, indicating a robust resistance level in the medium term. Given the temporary support observed on the daily chart, we anticipate the price to revisit the lower boundary of the cloud, with potential halts at 1.26350 and 1.27200.

However, it's essential to underline that our perspective on this pair remains unchanged unless there is a decisive weekly close below the 1.25000 level. Please bear in mind that market conditions can evolve rapidly, and this analysis is for informational purposes only. Always exercise caution, use proper risk management, and consider diverse factors when making trading decisions.